Why Herman Miller's Stock Is Trading Higher Today

Herman Miller MLHR shares are trading higher on Thursday after the company on Wednesday reported first-quarter EPS of $1.24, up from 84 cents year over year. The company also reestablished a quarterly dividend. The company reported quarterly sales of $626.80 million, which beat the analyst consensus estimate of $524.83 million.

Herman Miller researches, designs, manufactures, sells, and distributes interior furnishings across the globe. The company is predominantly located in the United States with corporate offices, independent dealers, and licensees in North America, Asia Pacific, Europe, the Middle East, and Latin America.

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The company's products are sold through a variety of sources, including owned and independent contract furniture dealers, direct customer sales, owned and independent retailers, direct-mail catalogs, and the company's online stores. The independent retailer division generates the majority of the firm's overall sales.

Herman Miller shares were up 32.08% at $34.19 at the time of publication on Thursday. The stock has a 52-week high of $49.87 and a 52-week low of $14.39.